Precision fermentation of dairy and meat products can help address food shortages and reduce waste. It can meet the growing demand for novel and vegan proteins. It ensures product consistency and stability through continuous improvement, and most importantly, it can help us reduce our reliance on animal agriculture. In addition, precision fermentation can overcome taste and texture challenges compared to conventional plant-based meat alternatives.
Here are five startups to watch in 2024 that are innovating in precision food fermentation.
1. Melibio: Make honey without bees!
- Founded: 2020
- Headquarters: California, USA
- Base funding: $9.4 million
- Latest round of financing: Seed round/US$2.2 million
- Website: www.melibio.com
Current honey production methods and commercial pollination practices have led to the decline of many native bee species. Melibio has solved this problem with precision fermentation technology, which uses food science to develop botanical honeys that taste and perform the same as traditional honey. Their microbial fermentation technology makes their honey molecularly identical to the "real" substance. This honey does not require the participation of bees, thus protecting species from harm, while also producing the sweet taste that everyone enjoys. Its method of producing sustainable, gentle, bee-free honey has several key benefits. The low volatility of the process allows for a stable supply chain, bringing predictability to the honey industry.
CEO Darko Mandich graduated from Harvard Business School in Serbia with a bachelor's degree in economics. MeliBio has raised $9.4 million in funding so far. The most recent round of financing was in November 2022, when it received $2.2 million in financing.
MeliBio was named one of TIME's Best Inventions of 2021 and received the Food Alternative Innovation of the Year award from AgTech Breakthrough.
2. Zero Cow Factory: Animal-free dairy
- Founded: 2021
- Headquarters: Gujarat, India
- Base funding: $4.1 million
- Latest round of financing: Seed round/US$40,000
- Website: zerocowfactory.com
Zero Cow Factory was established in 2021 in Gujarat, India, and is the country's first animal-free dairy. Their unique technology allows them to replicate nature-identical milk proteins and make real dairy products. The products are made without any animals and are free of lactose, antibiotics, hormones, cholesterol, and saturated fat.
The startup's environmentally friendly technology saves 99% of land, 98% of water, and 65% of energy compared to the traditional dairy industry. It also reduces carbon dioxide emissions by 84%. Zero Cow Factory is led by Sohil Kapadia and Parini Kapadia and has raised $4.1 million in two rounds of financing.
3. Melt & Marble: Using yeast to make special animal fats
- Founded: 2016
- Headquarters: Västra Götaland, Sweden
- Base funding: $5.8 million
- Latest funding round: Seed round / CHF 7.5 million
- Website: www.meltandmarble.com
Melt & Marble is a Swedish startup founded in 2015. The company specializes in producing "designer fats" for meat substitutes using yeast strains, engineering microorganisms to produce fats similar to beef, chicken or palm oil. Their technology is environmentally friendly and consumes less land, water and energy than the traditional dairy industry.
CEO Anastasia Krivoruchko is a molecular biologist. Their core technology is the ability to produce fats with highly specific properties and melting points, and the production process is compatible with existing infrastructure. Melt & Marble has raised a total of €5.8 million in two rounds of financing. The most recent financing came on May 5, 2022.
4. Planetary: Mass-produced meat and dairy alternatives
- Founded: 2022
- Headquarters: Geneva, Sweden
- Base funding: $11.7 million
- Most recent funding round: $3.99 million
- Website: www.planetarygroup.ch
Founded in Switzerland in 2022, Planetary is committed to solving a major challenge in the industry: the fermentation bottleneck. Many companies in the alternative protein field are in the technology or product development stage, but for some companies, scaling up remains challenging. Planetary builds and operates a global network of fermentation facilities to produce bio-based products at scale. The platform can scale, optimize and produce products with the best cost and sustainability footprint. Production can reach 200,000 to 500,000 liters.
Planetary was founded by David Brandes and Marison Ian. The business run by David was acquired for 15 million euros. Planetary raised $11.7 million in two rounds of financing. The latest round of financing was obtained from five investors on April 19, 2022.
5. UpDairy: Developing multifunctional dairy proteins through fermentation
- Founded: 2022
- Headquarters: Sao Paulo, Brazil
- Base funding: $2.5 million
- Most recent funding round: $500,000
- Website: updairy.co
UpDairy is a Brazilian-Singaporean food tech startup developing alternative dairy proteins through precision fermentation. They offer a range of ingredients to help the food industry deliver animal-free alternatives to consumers. The startup has created a process that copies genes from cows into fungi, which are grown in bioreactors while producing dairy proteins. These proteins have a wide range of uses, from baked goods to supplements. Their goal is to create plant-based dairy products that match the sensory profile of animal dairy products.
UpDairy was founded by Thabata Maria Alvarez, Harsh Sethia, and Mirelle Dogenski. The startup raised $250,000 in funding over two rounds.
